A representative sample
A. eliminates the problem of response bias.
B. is frequently a random sample.
C. reflects the characteristics of the population.
D. both b and c
E. all of the above
Answer: D
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There are 30 firms in an industry. What happens to that industry's four-firm concentration when the third- and fourth-largest firms merge?
A) Nothing, because their shares are already included in the concentration calculation. B) The industry's concentration ratio will fall. C) The industry's concentration ratio will increase. D) It is impossible to know without more information.
An increase in the MPC will increase the income multiplier and reduce the effect on national income of any change in investment
Indicate whether the statement is true or false
The payoff matrix below shows the payoffs (in millions of dollars) for two firms, A and B, for two different strategies, investing in new capital or not investing in new capital. 
An industry spy from firm A comes to firm B and offers to pay B in exchange for B's certain and enforceable promise to not invest. What is the most that firm A will be willing to pay B to not invest?
A. $35 million. B. $20 million. C. $30 million. D. $50 million.
Which of the following statements is not correct?
a. Competitive markets tend to limit the impact of discrimination on wages. b. Differences in earnings of whites and blacks or men and women provide clear evidence of discrimination. c. Some differences in earnings are attributable to discrimination based on race, sex, or other factors. d. Profit-maximizing behavior can reduce discriminatory wage differentials.